A man has been charged with allegedly defrauding a company of over Sh38 million in a fake gold scam.
Tim Orao Shikalo, alias Vincent Oloa Wanton, was arraigned before Senior Principal Magistrate Ben-Mark Ekhubi, where he denied two charges: conspiracy to commit a felony and obtaining money by false pretences.
According to the charge sheet, the accused, jointly with others, is alleged to have conspired to steal USD 265,200, approximately Sh38,188,800, from Asianic Ltd between February 1 and August 2, 2024, in Nairobi.
The court heard that Shikalo and his co-conspirators falsely claimed they were in a position to supply 580 kilograms of gold to the company, a claim prosecutors say was knowingly untrue.
In the second count, the prosecution accused the suspect of fraudulently obtaining the money under the guise of facilitating the non-existent gold deal.
Shikalo was released on a bond of Sh 3 million or an alternative cash bail of Sh 800,000.
The matter will be mentioned on July 29.